26,400 Shares in Redfin Co. (NASDAQ:RDFN) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in shares of Redfin Co. (NASDAQ:RDFN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,400 shares of the company’s stock, valued at approximately $159,000.

Several other institutional investors also recently bought and sold shares of RDFN. Vanguard Group Inc. boosted its position in Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after purchasing an additional 1,953,127 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Redfin by 25.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after acquiring an additional 445,486 shares during the period. Assenagon Asset Management S.A. increased its position in Redfin by 695.2% during the second quarter. Assenagon Asset Management S.A. now owns 351,612 shares of the company’s stock worth $2,113,000 after acquiring an additional 307,396 shares during the period. Manchester Capital Management LLC boosted its holdings in Redfin by 135.7% in the 1st quarter. Manchester Capital Management LLC now owns 144,118 shares of the company’s stock valued at $958,000 after purchasing an additional 82,965 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new stake in Redfin in the 2nd quarter worth $479,000. 61.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RDFN. Susquehanna reduced their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. B. Riley lifted their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. DA Davidson restated a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Wednesday, July 3rd. Wedbush restated a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Redfin has a consensus rating of “Hold” and a consensus price target of $7.88.

Redfin Stock Down 1.7 %

Shares of Redfin stock opened at $11.11 on Friday. The firm’s 50-day moving average price is $10.13 and its two-hundred day moving average price is $7.72. Redfin Co. has a 1-year low of $4.26 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) earnings per share. Research analysts anticipate that Redfin Co. will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the sale, the insider now owns 71,720 shares in the company, valued at approximately $663,410. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Redfin Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.